I e-filed my Federal Tax return yesterday. Today I received a 1099-R that I was not expecting. In other words, I have additional income to report that will reduce my refund. How do I amend my return?
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How Do I Amend My IRS Tax Filing?
#1 by Gem on July 31st, 2011
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You have to do it manually.
First you will need your full forms filed already.
Then you will take a paper return, write “AMENDED” across the top in bold letters and re-create your tax return with the additional income.
More than likely this will result in you having to pay in a little. (Take amount from already filed and subtract amount from amended-it will probably result in you owing a little). Pay it and file the amendment before April 15 and you will not have fines or penalties.
Wait until they catch you and you will pay out the nose.
If this is too complex, you can have a CPA file this for you.
Good luck
#2 by Ms. Angel.. on July 31st, 2011
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Wait until you receive you tax Refund, you do have three years to file and amended tax return Form 1040X, but I personally would wait until March to file the Form 1040X, once you file the amended tax return, which you must mail can’t e-file, it will take IRS 12 weeks (if not more) to process the F1040X, and if you owe you should full pay the amount you owe, if you will be due a refund it will be mailed to you, and the refund information is NOT available on “wheres my refund”
#3 by stephenweinstein on July 31st, 2011
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Download Form 1040X from http://www.irs.gov. Enter both the originally reported information and the correct information, in the appropriate columns. Follow the instructions. Sign it. Mail it.